Posts Tagged ‘extend Bush tax cuts’

Bill Clinton advises Barack Obama to extend Bush era tax cuts

Clinton and Obama

Paul Stanley

Newscast Media WASHINGTON, D.C.—Former President Bill Clinton took to the airwaves Tuesday to offer President Obama some economic advice by suggesting that the White House back a temporary extension of what is known as the Bush tax cuts, which are set to expire in January.

The suggestion from one Democratic president to another may cause further scrutiny of the Obama administration’s plan to increase taxes on those earning over $250,000 per year to raise money to reduce the nation’s growing deficit.

During President George W. Bush’s second term, Congress enacted a series of tax cuts, some of which will expire in January of 2013.

About that same time, $1.2 trillion in automatic spending cuts will take effect because the so-called “supercommittee” that met last fall was unable to reach a consensus on budget cuts or tax increases. Officials in the Congressional Budget Office have said allowing the two to occur at the same time may add to the nation’s economic woes by causing another recession.

“What I think we need to do is find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now, and then deal with what’s necessary in the long-term debt reduction plan as soon as they can, which presumably will be after the election,” Clinton said on CNBC’s “Closing Bell With Maria Bartiromo.”

Officials at the White House were mum on Clinton’s comments, but others close to the president pointed out that Obama has repeatedly said that he would not extend the Bush tax cuts for high-income individuals and families when they expire.

President Obama and Senate Majority Leader Harry Reid of Nevada have said they will not extend the Bush era tax cuts without some agreement from Republicans to raise taxes.

“If Republicans want to walk away from the bipartisan spending cuts agreed to last August, they will have to work with Democrats to replace them with a balanced deficit reduction package that asks millionaires to pay their fair share,” Reid said in a statement on Tuesday.

Despite both sides saying something must be done soon, political pundits believe the White House will not push the issue until after the elections.

http://www.newscastmedia.com/clinton-obama.htm

The lessons Obama should learn if Republicans win

Barack Obama

Newscast Media — Discussing the implications of a GOP win in the midterms on MSNBC this morning, Democratic Leadership Council chairman Harold Ford said the lesson Obama should learn from a Republican victory November 2, would be to extend the Bush tax cuts.

Ford said, “The reality is the country is worried about jobs, economic growth and our future. And there is a belief that the President and his team have gone about this in a way that has not only not been pleasing to independents but has not gained the confidence of the country as it relates to their future and as it relates to the country feeling like we can compete and succeed going forward. Extend the Bush tax cuts, be willing to work with Republicans, push the reset button with the business community. I think these are the two or three tone changes. They’ve got to send a clear message to the country, “We’ve heard the message. We are ready, not to give up on our goals, but to govern in a different way to achieve those goals.”

Ford may be right to an extent, but what voters will remember are Obama’s broken promises, so the other lesson Obama should learn is that if you can’t keep a promise, don’t make one.

Below are a list of Obama’s broken promises:

I will have a transparent government………………………………………Broken
I will use federal campaign funds…………………………………………….Broken
I will get US troops out of Iraq in 16 month………………………………Broken
I will change Washington with new faces…………………………………..Broken
I will have my administration pay their fair share of taxes……..Broken
I will eliminate rendition of terrorist combatants……………………..Broken
I will have a transparent admin. with the media………………………..Breaking
I will have new blood in admin. but names Panetta to CIA……….Broken
I will apply windfall taxes on big oil companies……………………………Broken
I will change US Foreign Policy, appoints Hillary Sec. State……Broken
I will change the defense department, YET keeps Gates…………Broken
I will not hire lobbyists………………………………………………….Broken

(These are the lobbyists Obama hired)
* Melody Barnes, lobbyist for American Civil Liberties Union, the Leadership
Conference on Civil Rights, the American Constitution Society and the Center for
Reproductive Rights.
* William Corr, lobbyist for Campaign for Tobacco-Free Kids.
* Patrick Gaspard, lobbyist for Service Employees International Union.
* David Hayes, lobby San Diego Gas & Electric.
* Eric Holder, attorney general, lobbyist for Global Crossing telecommications.
* Ron Klain, lobbyist for Asbestos Resolution, U.S. Airways, Airborne Express and
drug-maker ImClone.
* William Lynn, lobbyist for Raytheon.
* Cecilia Munoz, lobbyist for National Council of La Raza
* Mark Patterson, lobbyist for Goldman Sachs.
* Mona Sutphen, lobbyist for Angliss International.
* Michael Strautmanis, lobbied for the American Association of Justice.
* Tom Vilsack, lobbyist for NEA. Just to mention a few.

I will be non-partisan. Hires highly partisan Emanuel………………Broken
I will dump Patriot Act wire tapping…………………………………….Breaking
I will eliminate tax breaks for wealthy……………………………………….Broken

If only Obama had kept silent rather than make these promises to please his voters, he would not be on the defensive now, because silence can never be misquoted. http://www.newscastmedia.com/obamalessons.htm